Reinsurance rates down in April renewal but demand up

Reinsurance rates were seen to soften further at the April 1st 2016 renewals, the fourth consecutive year of price declines, but there are encouraging signs of increasing demand, which help to offset the gloom to a degree, according to Willis Re.

Reinsurance broker Willis Re explained its optimism in its latest renewals report, saying that although cedents continue to look for price reductions and expansion of terms and conditions from reinsurers, the overall picture at the April 1 2016 renewal was of marginally more stability, with price declines lower than seen the prior year.